Fresh Del Monte Produce Inc. (NYSE:FDP – Get Rating) was the recipient of a large increase in short interest during the month of December. As of December 30th, there was short interest totalling 662,700 shares, an increase of 7.2% from the December 15th total of 618,100 shares. Based on an average daily trading volume, of 194,300 shares, the short-interest ratio is presently 3.4 days. Approximately 1.8% of the company’s stock are short sold.
Insider Transactions at Fresh Del Monte Produce
In other Fresh Del Monte Produce news, Director Michael J. Berthelot sold 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $27.96, for a total value of $39,144.00. Following the completion of the sale, the director now directly owns 13,861 shares in the company, valued at $387,553.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Helmuth Lutty sold 7,159 shares of Fresh Del Monte Produce stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $28.00, for a total value of $200,452.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael J. Berthelot sold 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $27.96, for a total transaction of $39,144.00. Following the transaction, the director now owns 13,861 shares in the company, valued at approximately $387,553.56. The disclosure for this sale can be found here. Insiders have sold a total of 9,543 shares of company stock valued at $266,663 in the last 90 days. Insiders own 36.96% of the company’s stock.
Hedge Funds Weigh In On Fresh Del Monte Produce
Several institutional investors and hedge funds have recently modified their holdings of FDP. Allspring Global Investments Holdings LLC lifted its stake in shares of Fresh Del Monte Produce by 244.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 101,311 shares of the company’s stock valued at $2,653,000 after purchasing an additional 71,925 shares during the period. SummerHaven Investment Management LLC raised its position in shares of Fresh Del Monte Produce by 1.6% in the fourth quarter. SummerHaven Investment Management LLC now owns 26,143 shares of the company’s stock worth $685,000 after acquiring an additional 411 shares during the period. Maryland State Retirement & Pension System purchased a new stake in shares of Fresh Del Monte Produce during the 4th quarter worth about $328,000. Exchange Traded Concepts LLC grew its position in shares of Fresh Del Monte Produce by 2.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 21,233 shares of the company’s stock valued at $556,000 after acquiring an additional 580 shares during the period. Finally, Penn Capital Management Company LLC purchased a new position in shares of Fresh Del Monte Produce in the 3rd quarter valued at about $689,000. Institutional investors and hedge funds own 64.82% of the company’s stock.
Analyst Ratings Changes
Fresh Del Monte Produce Trading Up 0.5 %
Fresh Del Monte Produce stock opened at $27.17 on Wednesday. The stock has a 50-day moving average price of $26.87 and a 200 day moving average price of $26.98. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 19.00 and a beta of 0.66. Fresh Del Monte Produce has a 52 week low of $22.63 and a 52 week high of $31.44. The company has a quick ratio of 0.90, a current ratio of 1.88 and a debt-to-equity ratio of 0.26.
Fresh Del Monte Produce (NYSE:FDP – Get Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.54 EPS for the quarter. The business had revenue of $1.05 billion during the quarter. Fresh Del Monte Produce had a net margin of 1.56% and a return on equity of 3.43%.
Fresh Del Monte Produce Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, December 9th. Shareholders of record on Wednesday, November 16th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Tuesday, November 15th. Fresh Del Monte Produce’s dividend payout ratio is currently 41.96%.
About Fresh Del Monte Produce
Fresh Del Monte Produce, Inc engages in production and distribution of fresh fruit and vegetables products. It operates through the following segments: Bananas and Fresh and Value-added products segments. The Bananas segment produces banana. The Fresh and Value-added products segment includes sales of pineapples, melons, non-tropical fruit (including grapes, apples, citrus, blueberries, strawberries, pears, peaches, plums, nectarines, cherries and kiwis), other fruit and vegetables, avocados, fresh-cut fruit and vegetables, prepared fruit and vegetables, juices, other beverages, prepared meals and snacks.
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